Revenue prediction startup Gong surpasses $300M ARR, indicating potential IPO path

Gong, a startup that helps companies predict their revenue from potential sales, has surpassed $300 million in annualized recurring revenue, the company announced on Wednesday. Since its founding in 2016, Gong has used AI to analyze customer interactions. The addition of generative AI capabilities in recent years has helped to fuel the company’s growth. “We’re seeing great momentum. That’s why we’re excited to share the numbers,” Gong CEO Amit Bendov told TechCrunch. Gong was last valued at $7.25 billion when it raised a $250 million Series E in 2021 in a deal led by Franklin Templeton with participation from Coatue, Salesforce Ventures, Sequoia, Thrive Capital, and Tiger Global. Many companies funded in 2020 and 2021 received inflated valuations relative to their revenue and have since struggled to justify them. Assuming that Gong is still valued at $7.25 billion, the latest ARR figure implies that the company is now valued at roughly 24 times ARR and puts Gong in the same bucket ... Read full article.